Taiwan's Sinopac shares surge on news ICBC to buy stake in unit

Tue Apr 2, 2013 9:12pm EDT

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TAIPEI, April 3 (Reuters) - Shares of Sinopac Financial
Holdings Co Ltd jumped 7 percent to their daily limit
on Wednesday after the company said it would sell 20 percent of
its banking unit to Industrial and Commercial Bank of China Ltd
(ICBC) for around T$20 billion 
    It will be the first such investment between banks across
the Taiwan Strait.

 (Reporting by Faith Hung; Editing by Chris Gallagher)
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